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[Alpha Biz= Kim Jisun] HYBE and Dunamu have newly joined the Korea Economic Association (KEA), the organization announced on Thursday.
At its annual general meeting held at FKI Tower in Yeouido, Seoul, KEA approved the membership of 46 companies, including HYBE and Dunamu. Notably, the latest additions—NAVER, Kakao, HYBE, and Dunamu—represent a broadening of the association’s industry scope to include IT, virtual assets, and entertainment sectors.
HYBE is expected to play a significant role within KEA, particularly as anticipation grows over the potential lifting of China’s “Korean Wave” ban (Hallyu Ban). The Korean government has recently raised the issue of lifting the ban with China, and National Assembly Speaker Woo Won-shik met with Chinese President Xi Jinping in Harbin. Xi expressed optimism about enhancing bilateral exchanges, raising expectations for increased cultural content cooperation between the two nations.
There is also a high possibility that HYBE will be included in a future cultural delegation to China. Notably, HYBE Chairman Bang Si-hyuk and CEO Lee Jae-sang both attended the KEA meeting, drawing attention.
Dunamu, the operator of Upbit—the largest cryptocurrency exchange in South Korea—also joined the association, with CEO Lee Seok-woo representing the company at the meeting.
KEA is currently facing a shortage of experts in the IT sector, and with Dunamu’s addition, it is expected that the association will begin to show greater interest in virtual assets as well. Given that South Korea’s financial authorities have maintained a negative stance on cryptocurrencies, Dunamu is expected to leverage its KEA membership to advocate for regulatory improvements.
Meanwhile, NAVER CEO Choi Soo-yeon and Kakao CEO Jeong Shin-ah were absent from the meeting.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
